US Trade Representative General Counsel Greta Peisch expressed the urge to undertake a review of the Trump-era tariffs on Chinese goods at the earliest, at an event hosted by Georgetown University’s law school on Wednesday.

Peisch, however, acknowledged that such a review could likely take “months,” per Bloomberg.

Key quotes

“We want to undertake a review as soon as we can.”

“In part, it will be driven by the volume of responses that we are receiving -- going through those, ensuring we have a really good process to consider them. Given that, it’s likely to be months, but again, we want to complete it as quickly as we can.”

“The US’s review of tariffs on more than $300 billion in Chinese imports that’s required as the duties reach their four-year anniversary will likely take months.”

Market reaction

AUD/USD is losing ground on a downside surprise in the Australian Q1 Private Capex data. The pair is trading at 0.7079, down 0.19% on the day.